# N.D. Cent. Code § 35-03-01.1: 35-03-01.1. Definitions

> North Dakota · Statutes · In force

URL: https://www.frixlaw.com/law-library/statutes/STATE_ND_T35_C35-03_S35-03-01.1

## Section

- **Citation:** N.D. Cent. Code § 35-03-01.1
- **Heading:** 35-03-01.1. Definitions
- **Jurisdiction:** North Dakota
- **Kind:** Statutes
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** ND Code / Title 35 / Chapter 35-03 / Section 35-03-01.1

## Text

35-03-01.1. Definitions

1. A mortgage is a contract by which specific real property capable of being transferred is

hypothecated for the performance of an act without requiring a change in possession,

and includes a transfer of an interest in real property, other than a trust, made only to

secure the performance of an act.

2. A power of sale under a mortgage of real property is a trust and can be executed only

in the manner prescribed by the laws of this state governing the foreclosure of

mortgages. Such a power may be conferred by a mortgage upon the mortgagee, or

any other person, to be exercised after a breach of the obligation for which the

mortgage is a security.

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/STATE_ND_T35_C35-03_S35-03-01.1. Check the current official text before relying on it. Not legal advice.